Eurozone unemployment rate stable at 12% in January

The euro area seasonally-adjusted unemployment rate was 12.0 percent in January 2014, stable since October 2013, according to figures released on Friday by Eurostat, the statistical office of the European Union. The 18-nation euro unemployment rate in January 2013 was also 12 percent. The 28-nation European Union unemployment rate was 10.8 percent in January 2014, stable since October 2013. Eurostat estimates that more than 26 million persons in the EU, of whom 19 million were in the euro area, were unemployed in January 2014. On a monthly basis, the number of persons unemployed increased by 17,000 in both the EU and the euro area. On a yearly basis, unemployment decreased by 449,000 in the EU, and by 67,000 in the euro area. Among the Member States, the lowest unemployment rates were recorded in Austria at 4.9 percent, Germany at 5.0 percent and Luxembourg at 6.1 percent, and the highest in Greece at 28.0 percent in November 2013 and Spain at 25.8 percent. Compared with a year ago, the unemployment rate increased in 13 Member States, fell in 13 and remained stable in Austria and Slovenia. The highest increase was registered in Cyprus.